Mullen Group Ltd (TSE:MTL) Rating Increased to Outperform at National Bank Financial
Mullen Group Ltd (TSE:MTL) was upgraded by stock analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, StockTargetPrices.com reports. The brokerage presently has a C$18.75 target price on the stock, up from their previous target price of C$18.00. National Bank Financial’s target price would suggest a potential upside of 17.04% from the company’s previous close.
Other equities analysts also recently issued research reports about the company. BMO Capital Markets lowered their price target on Mullen Group from C$21.00 to C$19.00 in a research report on Friday, April 21st. CIBC reduced their price objective on Mullen Group from C$20.50 to C$19.00 in a report on Thursday, July 20th. Raymond James Financial, Inc. cut Mullen Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from C$18.50 to C$16.25 in a report on Monday, April 24th. Scotiabank reduced their price objective on Mullen Group from C$19.25 to C$18.00 and set an “outperform” rating for the company in a report on Friday, April 21st. Finally, Royal Bank Of Canada reduced their price objective on Mullen Group from C$20.00 to C$17.00 and set an “outperform” rating for the company in a report on Friday, April 21st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of C$18.88.
Shares of Mullen Group (TSE MTL) traded up 3.89% during mid-day trading on Tuesday, reaching $16.02. The company had a trading volume of 215,405 shares. The company has a market capitalization of $1.66 billion and a price-to-earnings ratio of 36.83. Mullen Group has a 12 month low of $13.90 and a 12 month high of $20.32. The firm’s 50-day moving average is $15.55 and its 200 day moving average is $16.55.
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About Mullen Group
Mullen Group Ltd. is a supplier of trucking and logistics services in Canada. The Company operates through its Business Units, which are divided into two operating segments: Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment consists of over 10 Business Units, offering a range of truckload and less-than-truckload (LTL) general freight services to customers in Canada and the United States.
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